Accountant ordered to pay back £750k

Date: 18th August 2008

An accountant involved in an extensive money laundering plot has been told he must pay back £740,244 or return to jail.

The Scotsman reported that accountant Jason Main was jailed for two years in December 2005 for his role in the money laundering scheme.

A judge has now ruled that the accountant gained nearly £750,000 from the scam. Previously, authorities have suggested that Mr Main had only made £17,000 from the activities.

However, a judge at Liverpool Crown Court determined that he was liable for the £740,244 that went through the plotters' accounts.

While Mr Main denied having assets, the judge agreed with the Crown's assertion that the accountant had hidden funds. As a result, he said the confiscation figure should be the same as the benefit sum, the paper reported.

The judge ordered that Mr Main should pay the money back within 18 months or spend 2.5 years in prison in default.

During the trail it also emerged that while Mr Main practiced as an accountant, he only possessed a higher national diploma in the subject.

Recently, MPs have launched a campaign to have the term 'accountant' legally recognised and protected.